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Mumbai: CBI arrested Harish Mehta Of Rohan Developersonce considered the south MumbaiLeading builder indicted in two-decade-old Rs 280-crore bank loan fraud case on May 20.
On 24 May, the court refused further custody of Mehta to the CBI saying that “merely saying that the accused is not cooperating and they want to face the present accused along with other accused, further PCR (custody) ) is not enough to give.” He is currently in judicial custody. A Thane court is likely to hear his bail plea on Monday.
The Economic Offenses Wing (EOW) of the CBI had registered a bank fraud case in 2016. state Bank of India (State Bank of India). In 2018, the CBI had chargesheeted Rajput Retails (now Shrim Corporation), its promoters Vijay Gupta and Ajay Gupta, SBI official VN Kadam and two others. About five years ago, the CBI had also arrested the Managing Director of ruby mills Bharat Shah But later he was released on bail. The CBI continues its investigation and learns about the role of Mehta and his firms in the case.
CBI accuses Mehta of complicity Bharat Shah, Vijay Gupta and Ajay Gupta defrauded SBI of Rs 280 crore and received Rs 50 crore from the proceeds of crime. Mehta allegedly received money in the guise of loan ruby millsWhich he used for personal purposes and invested in his associate company in the form of loan.
The Gupta brothers had allegedly taken a bank loan with the help of forged documents before sending Ruby Mills to buy premises in The Ruby Building in Dadar.
Shah entered into an agreement with Gupta and Mehta of Rajput Retail to sell the 14th, 15th and 16th floors of the building. Ruby Mills received the entire amount of Rs 155 crore on February 10, 2012 and after 10 days the letter of intent was executed between the three. The CBI said, “The letter of intent for the purchase of any building must precede the receipt of money”.
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